10-KPeriod: FY2011

FIRST CITIZENS BANCSHARES INC /DE/ Annual Report, Year Ended Dec 31, 2011

Filed March 7, 2012For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens BancShares, Inc. (FCNCA) filed its 2011 Form 10-K on March 7, 2012, detailing its financial performance and position for the fiscal year ended December 31, 2011. As a large accelerated filer, the company presented a comprehensive overview of its business operations, risk factors, and financial condition. The filing indicates a solid market presence with Class A and Class B common stock registered, and an aggregate market value of non-affiliate equity exceeding $1.1 billion as of the second fiscal quarter of 2011. Investors can find detailed financial statements, including consolidated balance sheets, income statements, and cash flow statements, along with extensive notes and management's discussion and analysis. The report also addresses internal controls over financial reporting and includes the independent registered public accounting firm's reports. Key areas for investor focus include the company's growth strategies, risk management practices, and its overall financial health as presented in the detailed financial disclosures.

Financial Highlights

33 data points
Beta

Net Income

$195.03M

EPS (Diluted)

$18.80

Total Assets

$21.00B

Cash & Equivalents

$590.80M

Free Cash Flow

$258.79M

Financial Statements
Beta
Interest Expense$144.19M
Net Income$195.03M
EPS (Basic)$18.80
Shares Outstanding (Basic)10.38M

Key Highlights

  • 1The filing provides a comprehensive overview of First Citizens BancShares' financial performance and condition for the fiscal year ended December 31, 2011.
  • 2FCNCA is classified as a large accelerated filer, indicating significant size and reporting history.
  • 3The company had an aggregate market value of non-affiliate equity of over $1.1 billion as of the last business day of the second fiscal quarter of 2011.
  • 4The report includes detailed financial statements (Balance Sheets, Income Statements, Cash Flows) and notes to the financial statements.
  • 5Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is included, offering insights into the company's performance drivers and outlook.
  • 6The filing confirms the company's adherence to SEC filing requirements, having filed all reports and submitted interactive data files as required.
  • 7Key sections cover Business, Risk Factors, Properties, Legal Proceedings, Market for Registrant's Common Equity, Selected Financial Data, and Internal Control over Financial Reporting.

Frequently Asked Questions

While the provided excerpt of the 10-K does not detail the specific business operations, a Form 10-K for a company named First Citizens BancShares, Inc. would typically detail its activities as a bank holding company, including commercial and retail banking, lending, wealth management, and other financial services offered through its subsidiaries.

Being a 'large accelerated filer' means that First Citizens BancShares meets specific size and reporting history criteria set by the SEC. This generally indicates a more established company with substantial public float and revenue, implying a higher level of financial scrutiny and reporting transparency.

Detailed financial information is available in Part II, Item 8 of the 10-K, which includes Consolidated Balance Sheets, Statements of Income, Statements of Comprehensive Income, Statements of Changes in Shareholders' Equity, and Statements of Cash Flows for the three-year period ended December 31, 2011. The Notes to Consolidated Financial Statements provide further in-depth explanations.

The filing mentions Class A Common Stock and Class B Common Stock, both with a par value of $1. Class A is registered under Section 12(b) of the Securities Exchange Act, likely indicating it's the primary publicly traded class. Class B is registered under Section 12(g), and the distinction between classes often relates to voting rights, dividend preferences, or conversion features, which would be detailed in the full report.